Singh, Ajit (2010): Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries? Published in: Macroeconomics, Finance and Money: Essays in honour of Philip Arestis, Fontana, G., McCombie, J. and Sawyer, M. (eds.) (2010): pp. 311-326.
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This paper explores the question of whether the institution of the stock market is likely to be helpful to developing countries in promoting their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related subjects of corporate finance and corporate governance. Contrary to the literature the paper arrives at a negative overall assessment of the institution of the stock market in relation to economic development. It also contributes by its policy proposals concerning the markets for corporate control, which again are in conflict with much of the conventional wisdom on the subject.
|Item Type:||MPRA Paper|
|Original Title:||Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries?|
|English Title:||Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries?|
|Keywords:||Stock market; Market for corporate control; Corporate finance; Corporate governance|
|Subjects:||O - Economic Development, Technological Change, and Growth > O1 - Economic Development
A - General Economics and Teaching > A1 - General Economics
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O16 - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
|Depositing User:||Ajit Singh|
|Date Deposited:||16. Aug 2010 01:00|
|Last Modified:||11. Feb 2013 18:08|
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